Latest news with #SoharInternational
Zawya
2 days ago
- Business
- Zawya
Oman: Muscat Stock Exchange index breaks 4,700-point barrier
Muscat – The Muscat Stock Exchange's (MSX) main index recorded new gains last week, surpassing the 4,700-point threshold and extending its winning streak to five consecutive weeks. The index reached 4,777 points – its highest level since early November – before trimming gains and closing the week at 4,718 points, up 64 points overall. Sectoral indices also posted positive performances, led by the Industrial Sector Index, which climbed 116 points. The Services Sector Index rose by 78 points, the Financial Sector Index by 27 points, and the Shariah Index by approximately 8 points. This upward trend was supported by increased institutional investment in the MSX and growing investor optimism regarding improved financial results, following the recent announcement of listed public joint-stock companies' earnings for the first half of the year. Last week, the Muscat Stock Exchange recorded a market capitalisation gain of RO178.2mn, reaching RO28.821bn by the close of trading on Thursday. Trading value surged by 64% to RO135.1mn, compared with RO82.3mn the previous week. The number of executed transactions also rose by 26.5%, from 10,593 to 13,400. OQ Base Industries led trading activity, with trades valued at RO36.5mn – accounting for 27% of total trading value. Bank Muscat followed with RO22.2mn, Oman Flour Mills with RO18.7mn, OQ Exploration and Production with RO16.5mn, and Sohar International with RO12.7mn, representing 9.4% of the total. A total of 47 securities advanced last week, while 28 declined and 12 remained unchanged. Dhofar Power Generation Company posted the highest gain, rising 32.7% to close at 77bz. Building Materials Industries increased by 25.4% to close at 79bz, and Al Suwadi Energy climbed 17.5% to reach 94bz. Among the biggest losers, United Finance bonds fell 30% to close at 70bz. Barka Water and Power shares declined by 12.2% to 180bz, and Oman Arab Bank's 2024 mandatory convertible bonds dropped 9% to close at RO1. In a significant development, OQ Exploration and Production announced its intention to repurchase a portion of its listed shares on the Muscat Stock Exchange. The company plans to buy between 45mn and 60mn shares at market price. The repurchase process will commence on August 9 and continue until February 9, 2026, or until the targeted number of shares has been acquired. Following the announcement, OQEP's share price fell by 16bz – from 348bz to 332bz. The share had previously seen a price increase after the company's extraordinary general meeting on June 24 approved an amendment to its articles of association, introducing a provision related to share buybacks. Last week also saw the launch of Ahlibank's pre-emptive rights issue, which is open to shareholders from July 24 to 28. Valued at RO50mn, the bank announced that share allocation will take place on July 30. The offering, priced at 142bz per share, is part of Ahlibank's efforts to raise capital. Ahlibank's share closed at 150bz at the end of the week's trading, down two baisas from the previous close. Four transactions were executed, amounting to RO10,600. Meanwhile, the pre-emptive rights saw 51 transactions involving 91mn rights, valued at RO96,000, with prices ranging between one and two baisas. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Zawya
23-07-2025
- Sport
- Zawya
Sohar International acts as strategic sponsor of sport spark 2025 at OCEC
Muscat: Reinforcing its long-standing commitment to youth empowerment, community development, and the promotion of impactful local partnerships that contribute to in-country value, Sohar International has announced its strategic partnership for the third edition of Sport Spark 2025. Hosted at the Oman Convention and Exhibition Centre (OCEC), the immersive indoor sporting event spans over 9,000 square meters of fully air-conditioned halls and is organized in collaboration with the Muscat Governorate, the Ministry of Culture, Sports and Youth, and several private sector partners. The event was officially inaugurated in the presence of H.E. Ahmed Mohammed Al Humaidi, Chairman of Muscat Municipality; and Mr. Abdulwahid Mohamed Al Murshidi, Chief Executive Officer of Sohar International, along with distinguished representatives from the public and private sectors. Running until August 16 across Halls 1 and 2 at OCEC, the event offers a dynamic environment that brings together sports, innovation, and community engagement. Commenting on the partnership, Mr. Abdulwahid Mohamed Al Murshidi, Chief Executive Officer of Sohar International, stated: 'In light of the challenges facing communities today, it is essential to prioritize the promotion of a healthy and active lifestyle among youth and all individuals. Sporting events like Sport Spark play a vital role in providing a safe and motivating environment that enables everyone to engage in physical activity, especially during seasons when outdoor exercise is less feasible. By supporting this initiative, we reaffirm our commitment to creating opportunities that enhance both physical and mental well-being, nurture local sporting talent, and foster a spirit of collaboration and community. We believe that investing in such initiatives is an investment in the future of our generations and reflects the important role national institutions play in contributing effectively to social and economic development. Sohar International remains steadfast in working alongside its partners to support initiatives that cultivate inspiring and sustainable environments, helping to develop skills and promote overall community welfare.' Through this strategic partnership, Sohar International underscores its continued support for forward-thinking initiatives that transcend traditional frameworks, providing an inclusive and enriching space for youth and families to connect, develop, and thrive. Now in its third year, Sport Spark continues to grow in scale and impact, offering more than 20 sports disciplines—including the introduction of indoor golf and hockey. The event welcomes children, youth, and families to a well-structured environment under the guidance of professional coaches, tailored to various age groups and skill levels. This year's edition features a host of first-time activities in Oman, such as the Muscat Night Run with 2.5 km and 5 km track options, the Football Academies Cup with participation from 23 local and regional teams, and the Ninja Obstacle Series, offering a modern, high-adrenaline take on obstacle-based competitions. In addition to sports tournaments and e-sports challenges, the event also caters to the corporate sector by offering customized packages for team-building days and professional recreation—promoting a culture where wellness and productivity are mutually reinforcing. The event is structured around a comprehensive timeline. Morning sessions, from 9:00 a.m. to 2:00 p.m., are reserved for a dedicated children's summer camp (ages 6 to 14), designed to blend learning and fun through interactive programming. General sports activities begin from 2:00 p.m. and continue until midnight, offering a safe, stimulating, and inclusive atmosphere that encourages active participation across the community. This partnership is fully aligned with Sohar International's broader strategy of enabling impactful and visionary collaborations that support youth, innovation, and cultural development. By contributing to initiatives that inspire, engage, and empower, the bank reaffirms its role as a catalyst for sustainable community advancement and long-term national progress. About Sohar International With the vision to become a world-class Omani services company that helps customers, community and people to prosper and grow, Sohar International operates with a purpose to help people 'win' by delivering responsive banking for their ever-changing world, complementing their growth and prosperity with international standard service delivery. The Bank seeks to redefine banking in Oman through transformational developments centred on the principles of More Velocity, making everything simple and fast; More Value, ensuring relevance and connectivity to customers' world; and More Vision, liberating stakeholders through talented leadership.
Zawya
21-07-2025
- Business
- Zawya
Sohar International partners as main sponsor for Refill 3, a culinary and cultural festival driving tourism in Khareef Dhofar
Muscat: In line with its commitment to advancing socio-economic growth and supporting community-driven innovation, Sohar International has signed a Memorandum of Understanding (MoU) to serve as the Main Sponsor – Banking Segment for Refill 3, a leading private-sector initiative taking place during Khareef Dhofar season. Refill 3 stands out as a vibrant festival that blends culinary culture, entertainment, and entrepreneurship, aiming to celebrate Oman's creative spirit while boosting tourism and economic activity with an expected attendance of 150,000 visitors. Sohar International invites the public to engage with Refill 3, an impactful platform that embodies innovation, opportunity, and cultural vibrancy, reinforcing Salalah's position as a key destination during the Khareef season. Commenting on the sponsorship, Mr. Abdul Qadir Al Sumali, Chief Retail & Premier Banking Officer at Sohar International said, "Partnering with Refill 3 aligns with our commitment to fostering community-driven initiatives. This festival is a vibrant celebration of culture and creativity—elements that play a vital role in advancing sustainable socio-economic growth. Through this exclusive sponsorship, we are proud to enhance visitor experiences and contribute to Khareef Dhofar's growing tourism sector. Our collaboration goes beyond sponsorship to deliver meaningful impact, ensuring financial accessibility and digital innovation are integrated throughout the event for the benefit of attendees and merchants alike." This edition, Refill 3 offers a dynamic platform that blends creative expression, enterprise, and immersive entertainment. The curated marketplace features over 100 participants, including niche Omani and GCC brands, along with international FMCG companies entering Oman for the first time. Visitors can explore diverse culinary offerings, interactive activations, and a vibrant performance lineup by regional and local talent—all within a family-friendly environment that includes children's zones. Among the festival's key attractions is the region's only paintball experience during Khareef Dhofar, enhancing its appeal as a unique seasonal destination. Through its exclusive partnership, Sohar International supports the festival's broader impact by promoting youth engagement, enabling SME visibility, and contributing to Salalah's expanding tourism and economic landscape. As part of the ongoing collaboration, Sohar International is actively implementing a series of targeted initiatives to enhance the visitor experience and support financial accessibility. These include exclusive coupon redemptions for the bank's customers across participating food vendors, QR code activations driving digital interaction, and the widespread use of Sohar International and Sohar Islamic POS solutions—ensuring seamless transactions while enabling local merchants to access modern financial infrastructure. A standout feature of the partnership is the Youth Wall, an interactive installation where young attendees are invited to share their aspirations, reaffirming the bank's commitment to nurturing the voices of Oman's youth and contributing to a more inclusive and aspirational national narrative. About Sohar International With the vision to become a world-class Omani services company that helps customers, community and people to prosper and grow, Sohar International operates with a purpose to help people 'win' by delivering responsive banking for their ever-changing world, complementing their growth and prosperity with international standard service delivery. The Bank seeks to redefine banking in Oman through transformational developments centred on the principles of More Velocity, making everything simple and fast; More Value, ensuring relevance and connectivity to customers' world; and More Vision, liberating stakeholders through talented leadership.
Al Bawaba
21-07-2025
- Automotive
- Al Bawaba
Volkswagen Oman signs MoU with Sohar International to offer flexible and attractive auto financing
Volkswagen Oman, represented by Premium Motors, has signed a strategic Memorandum of Understanding (MoU) with Sohar International, ushering in a new era of flexible and competitive car financing solutions in the Sultanate. The agreement offers preferential interest rates, quick approvals, and streamlined processing for customers purchasing new or certified pre-owned Volkswagen MoU was signed by Christian Nehme, General Manager of Premium Motors, and Abdul Qader Al Sumali, Chief Retail and Premier Banking Officer at Sohar collaboration aims to enhance convenience and affordability, making Volkswagen ownership more accessible for individuals and families across Oman. Sohar International, known for its innovative retail banking approach, will offer customized financing packages tailored to a range of customer partnership reflects our shared commitment to delivering greater value and peace of mind to car buyers,' said Christian Nehme. 'Volkswagen stands for quality and trust. With Sohar International's support, we are making the ownership journey even more attainable.' Volkswagen continues to strengthen its presence in Oman with a diverse vehicle lineup—from dynamic models like the Golf R and GTI to family-friendly SUVs such as the Teramont, Touareg, Tiguan and T-Roc. Through its Certified Used Cars program, the brand also delivers exceptional value with dealership-backed benefits. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.
Zawya
16-07-2025
- Business
- Zawya
Revamp Your Corporate Banking Experience with Sohar Islamic's Cutting-Edge Unified Transaction Banking Platform
Muscat. In alignment with Oman Vision 2040 and its commitment to promoting financial inclusion, Sohar Islamic - Sohar International Islamic Window - has announced the launch of its online Unified Transaction Banking Platform for its Wholesale Banking Clients. This platform offers Cash Management and Trade Finance solutions, serving as a comprehensive solution for corporate and institutional clients' everyday banking needs. It provides convenient features such as auto reconciliation, supply chain finance, liquidity management, receivables management, digital trade finance, and payment processing. Incorporating global technology trends, these online unified transaction banking services align with the bank's ongoing digitalization strategy. Mr. Fahad Akbar Al Zadjali, Head of Sohar Islamic at Sohar International, emphasizes the bank's dedication to innovation and staying ahead of the curve: "The demand for 24/7, easily accessible, and on-the-go banking solutions is crucial in today's ever-changing world. With the support of the Omani government, which has acted as a significant catalyst for change, we have witnessed enhanced business and industry collaborations, secure channels establishment, and more effective governance. At Sohar Islamic, we recognize the importance of leading industry transformation. Our agility, disruptive technologies, and commitment to innovation set us apart. By embracing digitalization, we provide exceptional customer service to wholesale banking clients while contributing to the broader goal of a paperless world." Mr. Sajeel Bashiruddin, Chief Technology & Digital Officer at Sohar International, stated, 'Our digital strategy is centred around building intelligent systems that are resilient, interoperable, and built for scale. In a fast-evolving financial environment, it is essential to design platforms that are not only secure but also adaptable to the complexities of modern business. Through a modular architecture, design and advanced integration capabilities, we are laying the foundation for a future where banking services become embedded within our clients' operational ecosystems. This approach supports long-term digital transformation while reinforcing our role as an innovation-led institution shaping the next era of banking in Oman.' Sohar Islamic's robust digital capabilities empower clients with reliable cash and liquidity management solutions, as well as efficient trade finance services, through a secure and seamless channel. Government and corporate clients benefit from the convenience of various payment options, automated reconciliation, digitized trade finance transactions, and a supply chain ecosystem connecting vendors and customers. The platform also facilitates easy balance management across group companies, optimization of interest costs, and transparent foreign exchange rate booking. To top it off, the unified digital transaction banking platform offers flexibility in conducting transactions, either through web access or integration with an ERP system using our out-of-the-box Host-to-Host integration solution. Sohar Islamic's remarkable progress in its digital transformation journey clearly demonstrates its dedication to putting customers at the center of its operations. The bank has effectively showcased this commitment by introducing several groundbreaking innovations in the banking industry. As a result, it is understandably excited about the upcoming solutions that will undoubtedly serve as significant milestones in its continued growth and development. About Sohar International With the vision to become a world-class Omani services company that helps customers, community and people to prosper and grow, Sohar International operates with a purpose to help people 'win' by delivering responsive banking for their ever-changing world, complementing their growth and prosperity with international standard service delivery. The Bank seeks to redefine banking in Oman through transformational developments centred on the principles of More Velocity, making everything simple and fast; More Value, ensuring relevance and connectivity to customers' world; and More Vision, liberating stakeholders through talented leadership.
